StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

Equities research analysts at StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a report released on Tuesday. The firm set a “buy” rating on the specialty retailer’s stock.

Other equities research analysts have also recently issued reports about the stock. Telsey Advisory Group restated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Monday, January 13th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and increased their target price for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Evercore ISI increased their target price on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Finally, Barclays increased their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Price Performance

Shares of NYSE JWN opened at $24.31 on Tuesday. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 15.48 and a beta of 2.51. The firm has a 50-day simple moving average of $23.96 and a 200-day simple moving average of $23.04. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the business earned $0.25 earnings per share. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its holdings in Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares in the last quarter. Spire Wealth Management grew its position in Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Nordstrom in the 4th quarter valued at $63,000. Vestcor Inc purchased a new position in Nordstrom in the 4th quarter valued at $63,000. Finally, Blue Trust Inc. grew its position in Nordstrom by 57.7% in the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after buying an additional 1,404 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.